Colombia’s Peso Steadies Near 3,673 As Stocks Push Deeper Into Record Territory
Key Points
- USD/COP hovered near 3,673 in early trading, after a sharp January downtrend began to flatten.
- The MSCI COLCAP climbed to about 2,521, keeping momentum strong but increasingly stretched.
- Policy credibility is the market’s anchor, while cross-border political shocks remain the wildcard.
Colombia’s markets opened Tuesday with the peso calm and equities still climbing, a mix that says more about confidence than excitement.
On TradingView’s ICE feed, USD/COP traded around 3,673 per dollar, close to the official TRM of 3,676.02. Monday’s TRM was 3,637.88, showing how quickly the reference rate has been moving at month-end.
Globally, the dollar index remains soft after a steep slide on Monday, when traders debated whether policy makers could step in to support the yen. By early Tuesday, the tone was still fragile rather than reversed, with markets focused on the Federal Reserve’s guidance.
Locally, the central bank is back in the spotlight. Colombia’s Banco de la República meets January 30, and many analysts still expect a 25 to 50 basis point hike from 9.25%.
That expectation helps explain why the peso’s pullbacks have been contained, even as political headlines keep testing investor patience.
Technically, the peso still sits inside a broader downtrend. The weekly chart remains heavy, with momentum subdued, even as the latest candles hint at stabilization.
The daily chart shows resistance stacked near 3,701 and 3,750, with a larger ceiling near 3,951. Support is clustered around 3,650 to 3,640. The 4-hour chart looks more constructive, with momentum recovering, but not yet decisive.
Stocks are telling a cleaner story. The MSCI COLCAP traded near 2,521 after rising 1.56% on Monday. Reported turnover was about COP 234.8 billion ($64 million).
The index’s RSI readings look overbought across short and longer timeframes, which often signals consolidation risk rather than an immediate collapse.
One fresh risk sits in energy. Ecuador lifted the tariff for transporting Colombian crude through SOTE from $3 to $30 per barrel, part of a widening trade dispute that also touched electricity exports. Any escalation could test sentiment around Colombia’s flagship oil names.
Top Winners
- MSCI COLCAP (record momentum)
- Colombian peso stability near 3,673
- Carry trades tied to credible rates
- Gold above $5,100
- Investor favorites in defensives and infrastructure
Top Losers
- Dollar index confidence after the slide
- Cross-border trade friction with Ecuador
- Oil-linked headline risk for Colombia
- Foreign ETF demand, still uneven
- Late equity momentum buyers facing overbought conditions
This is part of The Rio Times’ daily coverage of Colombian markets and Latin American financial news.
For context on regional markets, see Brazil’s Ibovespa for the same session.
Live Market IntelligenceColombia — Live Market Board
Rio Times · Live Market Intelligence
Colombia — Live Market Board
-1.28%
175,664.62
+0.30%
65,484.32
-0.53%
11,445.90
-0.22%
2,979,472
-0.72%
2,457.87
-1.28%
60,779.49
-1.40%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| COLCAP | 2,457.87 | -1.28% | — | 9.04 | 9.05 | 9.02 | 4,133 |
| USD/COP | 3,140 | +0.03% | -22.04% | 3,139 | 3,141 | 3,105 | — |
| BRENT | 88.88 | -0.03% | +34.42% | 88.91 | 90.07 | 88.12 | 29,713 |
| WTI | 83.11 | -0.11% | +31.57% | 83.20 | 84.35 | 82.40 | 166,848 |
| ECOPETROL | 16.92 | -0.53% | +98.01% | 17.01 | 17.05 | 16.79 | 737,591 |
| BANCOLOMBIA | 95.87 | -2.18% | +96.15% | 98.01 | 100.36 | 95.73 | 188,740 |
| GRUPO AVAL | 5.40 | +2.66% | +76.89% | 5.26 | 5.49 | 5.32 | 146,447 |
| TECNOGLASS | 42.30 | -1.10% | -48.04% | 42.77 | 42.73 | 42.05 | 60,908 |
| CREDICORP | 375.17 | -0.49% | +49.60% | 377.00 | 384.43 | 372.27 | 88,375 |
| BUENAVENTURA | 34.45 | -1.02% | +88.07% | 34.80 | 35.62 | 34.33 | 275,831 |
| SOUTHERN COPPER | 193.97 | -0.26% | +104.01% | 194.48 | 199.36 | 192.59 | 367,102 |
Also tracking regional peers: Chile’s IPSA closed the same session.
Related coverage: Brazil’s Morning Call | Colombia’s Oil And Gas Numbers Are Falling, And The Risks Ar
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